06-12-2004, 05:03 PM
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#21 (permalink)
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Senior Member
Car:
Join Date: May 2004
Member Number: 98
Location: St. Paul, MN
Posts: 136
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That is just what the finance manager tells you so he doesn't get charged back on the markup on the loan or the flat fee he gets for arranging the financing. You can pay it off without any penalty. It is against the law for them to charge you a penalty for paying off on the first payment. As far as the chargeback is concerned. Chrysler will not charge the dealer back if the customer makes a minimum of three payments. If the dealer was paid a flaat fee of $100 for arranging the loan and you pay off on the first payment the dealer will be charged back the $100.
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